UiPath (NYSE:PATH) Shares Down 3.6% Following Insider Selling

Shares of UiPath, Inc. (NYSE:PATH) traded down 3.6% during trading on Thursday following insider selling activity. The company traded as low as $17.92 and last traded at $18.02. 22,249,637 shares traded hands during mid-day trading, an increase of 43% from the average session volume of 15,508,219 shares. The stock had previously closed at $18.69.

Specifically, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $18.61, for a total transaction of $837,450.00. Following the completion of the sale, the chief executive officer owned 29,063,585 shares in the company, valued at $540,873,316.85. This trade represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brad Brubaker sold 27,580 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $18.55, for a total transaction of $511,609.00. Following the completion of the transaction, the insider owned 635,359 shares in the company, valued at approximately $11,785,909.45. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the completion of the sale, the chief executive officer owned 29,153,585 shares of the company’s stock, valued at approximately $560,040,367.85. This trade represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research firms recently commented on PATH. BMO Capital Markets increased their price target on UiPath from $13.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. Royal Bank Of Canada increased their target price on UiPath from $16.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday. Zacks Research cut UiPath from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. DA Davidson upped their price target on shares of UiPath from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Finally, Wells Fargo & Company raised their price objective on shares of UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, UiPath presently has an average rating of “Hold” and an average target price of $16.00.

UiPath Trading Down 3.4%

The stock has a market capitalization of $9.25 billion, a P/E ratio of 41.46, a PEG ratio of 5.37 and a beta of 1.10. The company has a fifty day simple moving average of $15.48 and a two-hundred day simple moving average of $13.28.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. UiPath had a net margin of 14.79% and a return on equity of 3.73%. The company had revenue of $411.11 million during the quarter, compared to analysts’ expectations of $392.46 million. During the same quarter in the previous year, the company earned $0.11 EPS. UiPath’s revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently made changes to their positions in PATH. Cetera Investment Advisers boosted its position in shares of UiPath by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 74,696 shares of the company’s stock worth $769,000 after purchasing an additional 1,652 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in UiPath by 30.5% in the first quarter. PNC Financial Services Group Inc. now owns 16,590 shares of the company’s stock valued at $171,000 after buying an additional 3,873 shares during the period. Vanguard Group Inc. boosted its holdings in UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock worth $495,029,000 after buying an additional 1,396,972 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in UiPath by 6.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,995,632 shares of the company’s stock worth $30,855,000 after buying an additional 177,071 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of UiPath by 3.8% during the 1st quarter. Deutsche Bank AG now owns 1,562,306 shares of the company’s stock worth $16,092,000 after buying an additional 56,721 shares during the period. Institutional investors own 62.50% of the company’s stock.

About UiPath

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.